Brokerages Anticipate Starbucks Co. (NASDAQ:SBUX) Will Announce Quarterly Sales of $7.98 Billion

Equities analysts forecast that Starbucks Co. (NASDAQ:SBUX) will announce sales of $7.98 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Starbucks’ earnings. The highest sales estimate is $8.12 billion and the lowest is $7.87 billion. Starbucks reported sales of $6.75 billion during the same quarter last year, which indicates a positive year over year growth rate of 18.2%. The company is scheduled to report its next quarterly earnings results on Tuesday, January 25th.

On average, analysts expect that Starbucks will report full-year sales of $32.68 billion for the current financial year, with estimates ranging from $32.50 billion to $33.00 billion. For the next fiscal year, analysts anticipate that the business will post sales of $35.67 billion, with estimates ranging from $35.19 billion to $36.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Starbucks.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, October 28th. The coffee company reported $1.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.00. The firm had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.22 billion. Starbucks had a net margin of 14.45% and a negative return on equity of 55.34%. The business’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS.

A number of research analysts have weighed in on SBUX shares. MKM Partners raised shares of Starbucks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $114.00 to $130.00 in a research note on Tuesday, December 7th. Robert W. Baird downgraded shares of Starbucks from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $126.00 to $116.00 in a report on Friday, December 17th. Atlantic Securities downgraded shares of Starbucks from an “overweight” rating to a “neutral” rating and set a $105.00 target price on the stock. in a report on Thursday, September 30th. Morgan Stanley lowered their target price on shares of Starbucks from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Bank of America initiated coverage on shares of Starbucks in a report on Monday, October 11th. They set a “buy” rating and a $135.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $123.57.

In other news, insider Michael Aaron Conway sold 47,088 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $111.50, for a total transaction of $5,250,312.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin R. Johnson sold 250,000 shares of Starbucks stock in a transaction dated Wednesday, December 8th. The stock was sold at an average price of $116.09, for a total value of $29,022,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 307,118 shares of company stock worth $35,431,134. 0.36% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of SBUX. Jaffetilchin Investment Partners LLC increased its stake in Starbucks by 97.8% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 8,036 shares of the coffee company’s stock worth $881,000 after purchasing an additional 3,973 shares during the period. Ninepoint Partners LP purchased a new stake in Starbucks in the second quarter worth $486,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Starbucks by 13.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 217,783 shares of the coffee company’s stock worth $24,350,000 after acquiring an additional 25,120 shares during the period. Resources Investment Advisors LLC. lifted its stake in Starbucks by 31.9% in the second quarter. Resources Investment Advisors LLC. now owns 8,083 shares of the coffee company’s stock worth $904,000 after acquiring an additional 1,957 shares during the period. Finally, Smith Salley & Associates lifted its stake in Starbucks by 13.1% in the second quarter. Smith Salley & Associates now owns 11,045 shares of the coffee company’s stock worth $1,235,000 after acquiring an additional 1,277 shares during the period. 68.26% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ SBUX traded down $2.28 during mid-day trading on Friday, hitting $100.12. The company’s stock had a trading volume of 13,701,199 shares, compared to its average volume of 9,677,548. The stock has a market cap of $117.46 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.83. Starbucks has a one year low of $95.92 and a one year high of $126.32. The company’s fifty day simple moving average is $111.95 and its 200-day simple moving average is $114.36.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 25th. Investors of record on Friday, February 11th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, February 10th. Starbucks’s dividend payout ratio is currently 55.21%.

Starbucks Company Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America; International; and Channel Development. The North America and International segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Earnings History and Estimates for Starbucks (NASDAQ:SBUX)

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